Web3 has been a slow learning process for me. It takes me multiple videos of the same topic for me to finally grasp something. I feel like things move so fast that it becomes hard to find current and relevant information. I’m sure all that will eventually change as we get more into better establishment.
Now that I’ve gotten a decent understanding of DeFi, Solidity, and web3, it’s kind of time for me to start doing some actual thinking on what I could contribute to this space.
How can we decentralize StockX? AKA how can I eat into the profits of a successful business model and utilize blockchain technology to create a more trust-less site that you can reliably buy sneakers from? Here’s my idea:
Let’s say this is v2 already: In order to participate as a seller, you have to be referred to this platform. There’ll be no “center" that authenticates the sneakers, instead the sneakers will be sent as a trustless protocol where buyers can safely assume that the sneakers are real
Of course there will be people that will try to game the system and send either fake shoes, or a box of rocks. How do we combat this? Through the referral system, your sponsor has liability on your actions if you decide to scam someone. Your voucher is bound to cover your actions if you decide to be shady.
OR instead of having a referral based system. A transaction can only occur with a third party from the seller. if the seller decides to be shady and bail, said third party will already have their funds automatically deducted via smart contract. Complicated and a hassle so this doesn’t really seem plausible.
There’ll have to be some tokenomics involved in terms of rewarding successful transactions from both parties but I haven’t gotten that far yet.
It’s like 12AM, and I have work tomorrow, goodnight.
Web3 has been a slow learning process for me. It takes me multiple videos of the same topic for me to finally grasp something. I feel like things move so fast that it becomes hard to find current and relevant information. I’m sure all that will eventually change as we get more into better establishment.
Now that I’ve gotten a decent understanding of DeFi, Solidity, and web3, it’s kind of time for me to start doing some actual thinking on what I could contribute to this space.
How can we decentralize StockX? AKA how can I eat into the profits of a successful business model and utilize blockchain technology to create a more trust-less site that you can reliably buy sneakers from? Here’s my idea:
Let’s say this is v2 already: In order to participate as a seller, you have to be referred to this platform. There’ll be no “center" that authenticates the sneakers, instead the sneakers will be sent as a trustless protocol where buyers can safely assume that the sneakers are real
Of course there will be people that will try to game the system and send either fake shoes, or a box of rocks. How do we combat this? Through the referral system, your sponsor has liability on your actions if you decide to scam someone. Your voucher is bound to cover your actions if you decide to be shady.
OR instead of having a referral based system. A transaction can only occur with a third party from the seller. if the seller decides to be shady and bail, said third party will already have their funds automatically deducted via smart contract. Complicated and a hassle so this doesn’t really seem plausible.
There’ll have to be some tokenomics involved in terms of rewarding successful transactions from both parties but I haven’t gotten that far yet.
It’s like 12AM, and I have work tomorrow, goodnight.
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